BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Mutual funds
|
|
|
Term deposits
|
|
|
Credit cards
|
|
|
Demand Draft
|
Detailed explanation-1: -List of third-party products sold by banks: 1. Insurance Products 2. Mutual Funds 3. Government Bonds 4.
Detailed explanation-2: -Third Party Products means any products manufactured by or provided by a party other than NACR, and may include, without limitation, products ordered by CUSTOMER from third parties pursuant to NACR’s recommendations.
Detailed explanation-3: -Mutual funds sell their products through distributors and directly. Third party distributors are mostly wealth managers, independent firms, bank branches or individuals. While wealth management units of banks sell schemes of all mutual funds, its branches mostly push products owned by the subsidiary mutual funds.
Detailed explanation-4: -(TPP) Third Party Providers are organisations or natural persons that use APIs developed to Standards to access customer’s accounts, in order to provide account information services and/or to initiate payments.